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Automotive Rear Seat Reinforcement Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast
Automotive Rear Seat Reinforcement Global Market Report 2024
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According to The Business Research Company's, The automotive rear seat reinforcement market size has grown steadily in recent years. It will grow from $11.56 billion in 2023 to $12.05 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to increasing safety regulations, the development of crash test dummies, the introduction of seatbelt laws, increased awareness of rear passenger safety, and growing demand for lightweight and fuel-efficient vehicles.
The automotive rear seat reinforcement market size is expected to see steady growth in the next few years. It will grow to $14.29 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to increasing focus on passenger safety, the rise of electric vehicles (EVs), stricter safety regulations, growth in autonomous vehicles, and expansion in emerging markets. Major trends in the forecast period include vehicle design evolution, integration of advanced features, technological advancements, product innovation, and innovations in materials and manufacturing techniques.
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Market Drivers and Trends:
The rising popularity of luxury vehicles is expected to propel the growth of the automotive rear seat reinforcement market going forward. Luxury vehicles are high-end cars that offer superior levels of comfort, performance, and advanced features compared to standard vehicles. There is an increasing demand for luxury vehicles due to rising disposable incomes and a growing preference for premium features and comfort. Automotive rear seat reinforcement in luxury vehicles enhances passenger safety and comfort by providing superior structural support and crash protection. For instance, in April 2023, Porsche AG, a Germany-based automobile company, delivered 80,767 cars in the first quarter of 2023, an 18% increase compared to the same period in 2022. The company saw strong growth across all of its major sales regions, with a 14% increase in Europe (excluding Germany), a 19% increase in Germany, a 30% increase in North America, and a 21% increase in China. Therefore, the rising popularity of luxury vehicles is driving the growth of the automotive rear seat reinforcement market.
Major companies operating in the automotive rear seat reinforcement market are developing innovative products, such as reclining rear seats, to enhance passenger comfort and safety, meeting the growing demand for advanced features in modern vehicles. Reclining rear seats are adjustable car seats located in the rear of a vehicle that can tilt backward to various angles, allowing passengers to customize their seating position for enhanced comfort during travel. For instance, in April 2023, Faurecia SE, a Netherlands-based specialty coatings and treatment provider, launched the Zero-Gravity Captain Chair, a rear passenger seating solution tailored specifically for the Chinese market. This innovative chair is designed to deliver advanced well-being features and unsurpassed comfort to rear-seat passengers. The Zero-Gravity Captain Chair can be set to a position known as Zero Gravity, which reclines the seat to an angle that's almost completely flat.
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Major Key Players of the Market:
Magna International Inc., Aisin Seiki Co. Ltd., Lear Corporation, Tenneco Inc., Adient plc, Toyota Boshoku Corporation, Brose Fahrzeugteile GmbH & Co. KG, Toyotetsu Fukuoka Co. Ltd., NHK Spring Co. Ltd., Grupo Antolin-Eurotrim, Sumitomo Riko Co. Ltd., TS Tech Co. Ltd., Tachi-S Co. Ltd., Bridgewater Interiors LLC, Imasen Electric Industrial Co. Ltd., Sharda Motor Industries Ltd., Futuris Group, Bharat Seats Limited, DURA Automotive Systems, Hyundai Transys Inc.
Automotive Rear Seat Reinforcement Market 2024 Key Insights:
• The automotive rear seat reinforcement market size is expected to see steady growth in the next few years. It will grow to $14.29 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%.
• Luxury Vehicle Demand Fueling Automotive Rear Seat Reinforcement Market Growth
• Innovative Reclining Rear Seats For Enhanced Passenger Comfort and Safety
• Asia-Pacific was the largest region in the automotive rear seat reinforcement market in 2023
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